Page 9 - Ministry Of Corporate Affairs

Govt proposes Unitech takeover, submits proposal in Supreme Court

The government will appoint 10 directors to Unitech's board, it is learnt. All positions will be filled by people from different spheres and with varying expertise

Takeover norms for unlisted firms getting finalised, to be unveiled soon

Unlisted companies have no formal takeover code and shares are transferred on the basis of contracts and agreements

Phones, visitors not allowed: Inside story of central registration centre

The address of the office, set up by the ministry of corporate affairs three years ago, is not exactly a secret but officials do not want to publicise any specific details of the organisation

Tata-Mistry saga: In a new twist, RoC seeks modification of NCLAT order

The Registrar of Companies has sought deletion of the words 'illegal' and 'with the help of the RoC' used by the NCLAT in its last week order

In 2019, independent directors exit in droves as tighter scrutiny bites

Experts say people are getting more and more selective about joining boards of companies, while basing their decision on several qualitative factors

Corp Affairs Min moves NCLAT, seeks modification in its order on Tata Sons

Passing an order on December 18, NCLAT had directed for the reinstatement of ousted Cyrus Mistry as Chairman of Tata Sons.

Registering a company? Starting a business gets just a little bit easier

Experts suggested the MCA give access to the data and documents filed by companies to banks

NCLAT stays NCLT directive making MCA party in all insolvency cases

The appellate tribunal's direction came over a petition filed by the government through the Ministry of Corporate Affairs (MCA) challenging the NCLT order

From shareholders to stakeholders

In part I of a series, the authors discuss evolution of the environmental consciousness of companies

Govt moves NCLAT against NCLT order making MCA party in all IBC cases

The appellate tribunal is expected to hear the case on Friday

Firms under IBC: Govt to allow resolution professionals to make filings

The RP is not empowered to carry on compliances such as signing and uploading the audited and unaudited financial results

The elephant in the board room

The separation of the roles of the chairman and MD/CEO was bound to be contentious from the time it was mooted. Surprisingly, it took two years for industry to formally raise this issue

'No irregularities': MCA relief to Indiabulls Housing Finance, for now

It is, however, still probing the company, one of the country's largest real estate lenders, and has sought two months' time for filing additional affidavit in this matter

No irregularity in Indiabulls Group loans to 5 firms: Corp min to Delhi HC

The petitioners had alleged in the PIL that the loans were given to shell companies

Govt moves NCLT to reopen financial statements of CG Power for FY15-19

The corporate affairs ministry on Monday moved NCLT seeking to reopen and restate the financial statements of CG Power & Industrial Solutions under Section 130 of the Companies Act for financial years 2015 to 2019. Alleging financial irregularities, the CG Power board had on August 30, 2019 in a mid-night drama removed the company promoter Gautam Thapar as the non-executive chairman, a position he had held since July 2006. The National Company Law Tribunal (NCLT) directed the ministry to issue notices to market regulator Sebi, the income tax department and Thapar to file reply within a week and also asked the ministry to file the rejoinder a week later. The tribunal has posted the matter for more hearing to December 16. The company said an investigation instituted by its board had found major governance and financial lapses, including some assets being provided as collateral and the money from the loans siphoned off by "identified company personnel, both current and

MCA wants accounts of CG Power and Industrial Solutions to be restated

It wants chartered accountants to re-open the books of account and recast the financial statements of the company and its subsidiary firms.

Rescue financiers call for ministry's protection in insolvency proceedings

The ministry of corporate affairs (MCA) has representations from fund managers and private lenders providing rescue financing to stressed projects

Easing of IBC deadline to serve interests of public, debtor: MCA secretary

The Supreme Court has relaxed the 330-day timeline for resolving stressed assets

How govt's new AI-based system can help cos save non-compliance costs, time

Currently, all forms and documents are electronically filed with the MCA

Want to be an independent director? Sit for exam and pass with at least 60%

The Indian Institute of Corporate Affairs under the MCA will hold the exam in December